XRP and Ethereum had been in a battle for the second spot for years till the former entered a bearish part following the SEC’s lawsuit.
With Bitcoin (BTC) securing its spot as the largest crypto asset by market cap, Ethereum (ETH) has additionally maintained the second spot for years. Nonetheless, this dominance for first and second positions was not all the time the case.
Notably, whereas BTC has all the time remained the largest asset, the place of the second-largest cryptocurrency was as soon as a relentless battle between XRP and Ethereum, with each belongings often retaking and relinquishing this place for years.
For context, earlier than the launch of XRP and Ethereum, Litecoin secured the second spot amongst the largest crypto belongings till October 2014, when XRP surpassed it to carry this place.
XRP and Ethereum’s Battle for Second Spot Earlier than the SEC Lawsuit
XRP maintained this spot, with Litecoin unable to catch up, till Ethereum outranked it in February 2016. CoinMarketCap’s historic snapshot confirms that Ethereum soared to a market cap of $358.3 million in late February 2016, whereas XRP had a valuation of $276 million.
All through 2016, Ethereum held the second spot, ultimately closing the 12 months with a valuation of over $600 million, over $400 million increased than XRP’s $200 million valuation.
Nonetheless, issues modified in December 2017 on the again of XRP’s meteoric run. By December 31, 2017, XRP boasted a market cap of $89.12 billion, holding the second spot, whereas Ethereum, which had a market cap of $73.17 billion, was relegated to 3rd.
Nonetheless, as XRP witnessed a large correction, Ethereum retook the second spot. In 2018 alone, the two belongings repeatedly reclaimed and misplaced this place, with XRP closing the 12 months as the victor with a valuation of $15.07 billion, dwarfing Ethereum’s $14.56 billion.
Aftermath of the SEC Lawsuit
This battle slipped into 2019 and 2020, however Ethereum principally maintained the second spot. Nonetheless, following the SEC’s lawsuit against Ripple in December 2020, XRP collapsed additional, even relegating the third spot and slipping to as little as seventh in February 2021.
Lately, particularly in 2023 and 2024, XRP additionally struggled to even make it to the prime 5. Even in October 2024, XRP languished in the seventh spot, with a market cap of $29.3 billion, ten instances lower than Ethereum’s market cap of $301.7 billion at the time.
XRP’s breakthrough materialized in November 2024 following the U.S. elections. By Dec. 8, 2024, the asset had recovered the third spot with a market cap of $148.98 billion. Nonetheless, this was nonetheless $334 billion beneath Ethereum’s market cap of $482 billion.
Apparently, because of its higher resilience amid the market-wide bearish strain that started in February 2025, XRP is now nearer to overtaking Ethereum than it has been in years. Presently, XRP’s market cap of $138 billion is $169 billion away from Ethereum’s valuation of $307 billion.
For context, XRP solely must rally to a worth of $5.24 to overhaul Ethereum in market cap. This could require a 122% improve from the present worth of $2.36. With the SEC lawsuit now heading toward a definitive settlement, most believe XRP might ultimately retake the second spot if it maintains its progress momentum.
DisClamier: This content material is informational and shouldn’t be thought-about monetary recommendation. The views expressed on this article could embody the creator’s private opinions and don’t mirror The Crypto Fundamental opinion. Readers are inspired to do thorough analysis earlier than making any funding selections. The Crypto Fundamental shouldn’t be accountable for any monetary losses.
